- Moving forward, Likewize’s management team will also have significant go-forward ownership in the company
- The transaction is expected to close in the first quarter of 2023
- Jefferies LLC acted as lead financial advisor and Citi served as financial advisor to Brightstar and Likewize
Genstar Capital has agreed to invest in Likewize, a tech protection and support company. No financial terms were disclosed.
Likewize is also backed by Brightstar Capital Partners.
Moving forward, Likewize’s management team will also have significant go-forward ownership in the company.
“We are excited to partner with Rod and the exceptional Likewize team, as well as Brightstar, as the company continues to benefit from the increasing demand for device protection, repair, warranty and related solutions,” said Ryan Clark, president and managing partner of Genstar, in a statement. “We have significant experience in the warranty product space and look forward to helping Likewize deliver on its strategy and achieve its full growth potential.”
Brightstar acquired Likewize in October 2020.
The transaction is expected to close in the first quarter of 2023.
Jefferies LLC acted as lead financial advisor, and Citi served as financial advisor to Brightstar and Likewize.
Currently, Genstar has approximately $35 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.
Brightstar Capital Partners invests in the middle market.